Opposition wants update on SSL fraud probe

The Opposition People's National Party is calling for the Government and law enforcement officials to provide an update on the status of the investigations into the massive fraud at investment firm Stocks and Securities Limited (SSL).

Opposition Spokesman on Finance, Julian Robinson says while it is appreciated that sensitive information cannot be disclosed, it is important that Jamaicans, and in particular, those with monies invested in the company, are kept in the loop about the progress of the investigations.

“Given Jamaica's poor track record of successfully prosecuting those responsible for financial crimes, periodic updates on the status of the investigations are critical to maintaining public confidence that there will be no cover-up."

Specifically, the opposition would like to know the status and progress of the work being done by international partners including Kroll Associates, who were contracted to do a forensic audit of SSL and trace where funds may have been misappropriated.

The opposition is reminding the government that Jamaica's reputation as a place to do business is on the line as the international business community and those in the Diaspora watch closely to see how this matter is handled.

Approximately $3 billion is believed to have been fleeced from dozens of SSL account holders, including retired sprinter Usain Bolt, who has lost $2 billion.

A former SSL wealth advisor is now before the court in relation to the case.

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